Transaction Monitoring Market By Global Industry Size, Share, Trends, Opportunity and Forecast 2024 - TechSci Research
Global transaction monitoring market is anticipated to grow at a CAGR of around 15% during the forecast period. The global transaction monitoring market was valued at over $ 8 billion in 2018 and is expected to witness progressive growth by 2024. The reason for the growth of the transaction monitoring market includes surging requirement to manage KYC compliance. Moreover, corruption along with terrorist financing are some of the major concerns for global organizations and major economies. These issues result in increasing terrorist activities, drug smuggling, other illegal activities. Therefore, the organizations are shifting their focus towards deploying various security solutions to restrict criminals from money laundering, which shuts off the cash flow and help reduce criminal activities. Furthermore, increasing awareness about the security solutions and growing fear of privacy interruption might hamper the growth of the market in the coming years. Global transaction monitoring mar...